Hexaware Technologies PAT up 25.4%

IT services firm Hexaware Technologies reported a profit after tax of Rs 153.6 cr for the second quarter of 2018, up 14.3% sequentially and 25.4% year on year.

The company reported revenues of Rs 1136.7 cr, up 8.4% sequentially and 15.4% YoY. In dollar terms, constant currency revenue was at $169.8, up 4.7% QoQ, and PAT at $22.7M; up 9.5% QoQ, 19.5% YoY

“We continue to consistently deliver robust organic growth and are pleased to increase growth guidance for the year,” said R Srikrishna, CEO, Hexaware.

The Americas led geographic growth with 6.2% QoQ growth. Europe also grew faster than company with 5.4% QoQ and 25.4% YoY growth. Infrastructure Management Services (IMS) grew at 8.9% QoQ and 37.0% YoY, and Business Process Services at 8.9% QoQ and 11.5% YoY growth this quarter.

Amongst verticals, Manufacturing & Consumer saw the most growth during the quarter at 11.2% QoQ and 32.4% YoY growth, followed closely by Healthcare & Insurance with 10.9% QoQ and 21.2% YoY growth

The board also declared a second interim dividend of Rs 2.5 per share (125%) on equity shares of ` 2.00 each. “Hexaware has delivered yet another consistent performance with revenue growth of 3.8% QoQ and 4.7% QoQ in constant currency, which is an evidence of our successful strategy of Automate Everything, Cloudify Everything and Transform Customer Experience." said Atul Nishar, Chairman, Hexaware Technologies.